Redwood Investment Management LLC Reduces Stock Holdings in eBay Inc. (NASDAQ:EBAY)

Redwood Investment Management LLC cut its holdings in eBay Inc. (NASDAQ:EBAY) by 73.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 28,465 shares of the e-commerce company’s stock after selling 78,181 shares during the quarter. Redwood Investment Management LLC’s holdings in eBay were worth $1,763,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in EBAY. Ameriprise Financial Inc. lifted its holdings in shares of eBay by 12.4% in the fourth quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company’s stock valued at $1,765,148,000 after purchasing an additional 3,149,934 shares in the last quarter. Independent Franchise Partners LLP raised its position in shares of eBay by 25.6% during the 4th quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company’s stock worth $692,517,000 after purchasing an additional 2,277,839 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in eBay by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,032,336 shares of the e-commerce company’s stock valued at $435,665,000 after buying an additional 245,624 shares in the last quarter. Northern Trust Corp grew its holdings in eBay by 17.8% during the 4th quarter. Northern Trust Corp now owns 6,809,265 shares of the e-commerce company’s stock valued at $421,834,000 after buying an additional 1,030,292 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in eBay by 1.4% during the fourth quarter. Victory Capital Management Inc. now owns 5,936,508 shares of the e-commerce company’s stock worth $367,767,000 after buying an additional 82,904 shares in the last quarter. 87.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other eBay news, CEO Jamie Iannone sold 10,000 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $69.83, for a total value of $698,300.00. Following the transaction, the chief executive officer now owns 570,754 shares of the company’s stock, valued at approximately $39,855,751.82. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephen J. Priest sold 1,167 shares of the firm’s stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $66.21, for a total value of $77,267.07. Following the transaction, the chief financial officer now owns 65,080 shares in the company, valued at approximately $4,308,946.80. This trade represents a 1.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 187,755 shares of company stock worth $12,943,715 over the last three months. 0.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

EBAY has been the topic of a number of analyst reports. StockNews.com raised eBay from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th. Needham & Company LLC raised their price target on shares of eBay from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of eBay from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Sanford C. Bernstein lowered shares of eBay from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $70.00 to $65.00 in a research report on Tuesday, April 22nd. Finally, Robert W. Baird raised their target price on shares of eBay from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $67.42.

eBay Price Performance

Shares of EBAY stock opened at $70.60 on Friday. eBay Inc. has a 52 week low of $51.02 and a 52 week high of $71.61. The stock has a market capitalization of $32.55 billion, a PE ratio of 17.74, a PEG ratio of 2.22 and a beta of 1.30. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The stock’s fifty day moving average is $66.35 and its 200-day moving average is $65.37.

eBay (NASDAQ:EBAY) last posted its quarterly earnings data on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.04. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.55 billion. eBay had a return on equity of 30.97% and a net margin of 19.68%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 EPS. Equities research analysts expect that eBay Inc. will post 3.86 EPS for the current fiscal year.

eBay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.29 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a yield of 1.64%. eBay’s payout ratio is 27.62%.

About eBay

eBay Inc, together with its subsidiaries, operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally. The company’s marketplace platform includes its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.